Verastem (NASDAQ:VSTM) Shares Down 10.1%

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Verastem Inc (NASDAQ:VSTM) traded down 10.1% on Friday . The stock traded as low as $1.41 and last traded at $1.43, 1,328,395 shares traded hands during mid-day trading. A decline of 46% from the average session volume of 2,460,015 shares. The stock had previously closed at $1.59.

Several equities analysts have recently weighed in on the company. BTIG Research raised their target price on Innovative Industrial Properties to $148.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Roth Capital set a $10.00 target price on Savara and gave the company a “hold” rating in a research report on Tuesday, May 14th. Zacks Investment Research upgraded Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Saturday, July 13th. Cantor Fitzgerald began coverage on Verastem in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $5.00 target price on the stock. Finally, B. Riley reiterated a “buy” rating and set a $26.00 price objective (up previously from $24.00) on shares of KEMET in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $7.66.

The company has a market cap of $115.99 million, a PE ratio of -1.04 and a beta of 2.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57. The business has a 50-day moving average of $1.46.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). Verastem had a negative return on equity of 79.68% and a negative net margin of 315.21%. The company had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $2.84 million. As a group, research analysts forecast that Verastem Inc will post -1.97 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of VSTM. Stratos Wealth Partners LTD. purchased a new stake in Verastem in the first quarter valued at $30,000. Principal Financial Group Inc. acquired a new stake in shares of Verastem in the fourth quarter valued at $35,000. Amalgamated Bank acquired a new stake in shares of Verastem in the fourth quarter valued at $35,000. Commonwealth Equity Services LLC grew its stake in shares of Verastem by 43.2% in the second quarter. Commonwealth Equity Services LLC now owns 26,697 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 8,054 shares in the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of Verastem in the first quarter valued at $42,000. Institutional investors own 43.82% of the company’s stock.

Verastem Company Profile (NASDAQ:VSTM)

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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